Altium Capital Management LLC Makes New Investment in Revolution Medicines, Inc. (NASDAQ:RVMD)

Altium Capital Management LLC bought a new position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 60,000 shares of the company's stock, valued at approximately $2,624,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Revolution Medicines by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company's stock valued at $747,799,000 after buying an additional 2,185,082 shares during the period. FMR LLC raised its position in shares of Revolution Medicines by 14.7% in the 4th quarter. FMR LLC now owns 6,742,083 shares of the company's stock worth $294,899,000 after acquiring an additional 866,190 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Revolution Medicines by 12.7% in the 4th quarter. Geode Capital Management LLC now owns 4,086,199 shares of the company's stock valued at $180,171,000 after purchasing an additional 459,174 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Revolution Medicines by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company's stock valued at $84,467,000 after purchasing an additional 167,997 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in Revolution Medicines in the third quarter worth $83,082,000. 94.34% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Jack Anders sold 1,864 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $72,770.56. Following the transaction, the chief financial officer now directly owns 115,006 shares of the company's stock, valued at approximately $4,489,834.24. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $119,384.32. Following the completion of the sale, the chief operating officer now directly owns 153,533 shares in the company, valued at $5,993,928.32. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock valued at $650,406 in the last three months. 8.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. UBS Group raised their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Wedbush reiterated an "outperform" rating and set a $67.00 price objective on shares of Revolution Medicines in a research note on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and issued a $59.00 target price on shares of Revolution Medicines in a research note on Tuesday, April 8th. Stifel Nicolaus reduced their price target on Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Finally, HC Wainwright upped their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, March 3rd. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, Revolution Medicines presently has a consensus rating of "Buy" and an average target price of $66.67.

Revolution Medicines Stock Performance

RVMD stock traded up $1.43 during trading on Wednesday, reaching $38.29. The company had a trading volume of 1,256,218 shares, compared to its average volume of 1,425,035. The firm has a 50-day simple moving average of $37.59 and a 200-day simple moving average of $44.27. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $62.40. The company has a market cap of $7.12 billion, a price-to-earnings ratio of -10.67 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.